Photograph used for illustration goal solely.
Indian REITs Affiliation on Monday (August 12, 2024) stated that claims made by the US-based quick vendor Hindenburg Analysis suggesting that the REIT framework made by markets regulator SEBI serves the pursuits of a choose few are “baseless and deceptive”.
In reality, the association has commended SEBI and its management for crafting a “rigorous regulatory atmosphere” that features complete periodic reporting necessities, obligatory unbiased valuations, and strict governance requirements.
These measures are designed to boost transparency and shield investor pursuits, it added.
The assertion got here after the Hindenburg report on Saturday (August 10, 2024) alleged that current amendments to SEBI’s REIT Rules 2014 had been made to profit a selected multinational monetary conglomerate. On this regard, the markets regulator said that SEBI (REIT) Rules, 2014 has been amended on occasion.
In a press release, the affiliation stated that for the reason that introduction of REIT (Actual Property Funding Belief) rules in 2014, India has established a robust and clear regulatory framework that aligns with world finest practices.
“Developed in session with all market individuals, this framework ensures the best ranges of investor safety for each –domestic and worldwide institutional traders, in addition to retail traders,” it stated.
Hindenburg Analysis on Saturday (August 10, 2024) launched a broadside in opposition to market regulator Sebi chairperson Madhabi Puri Buch, alleging she and her husband had stakes in obscure offshore funds used within the alleged Adani cash siphoning scandal.
Sebi chairperson Buch and her husband Dhaval denied the allegations as baseless and asserted their funds are an open e book. Her husband Dhaval Buch is a senior advisor with Blackstone.
The Adani Group termed the newest allegations malicious and based mostly on manipulation of choose public data.
The corporate stated it has no business relationship with the Sebi chairperson or her husband.
Indian REITs Affiliation, which counts Brookfield India Actual Property Belief, Embassy Workplace Parks REIT, Mindspace Enterprise Parks REIT, and Nexus Choose Belief — as their founding members, stated that the sector’s progress has drawn vital curiosity and participation from distinguished world institutional traders.
These traders’ participation not solely strengthens the belief and credibility of India’s monetary system but in addition supplies traders with a reliable and clear avenue to interact within the nation’s increasing actual property market.
At present, there are 4 listed REITs on the Indian inventory exchanges, collectively managing belongings price over ₹1.4 lakh crore and serving over 2.4 lakh crore unitholders. These REITs have distributed over ₹18,000 crore, with the market capitalisation of the asset class reaching about ₹80,000 crore.
